The U.S. Department of Housing and Urban Development has said it will grant $47 million towards providing housing counseling that will help over 1 million families find housing or avoid foreclosure. HUD-approved housing counselors do a lot to aid homebuyers, whether it be guiding people through their first home purchase or teaching them the pros and cons of owning. Their efforts can give families an opportunity to own a home, and the tools they give them can help them navigate renting, home financing, and how to prevent foreclosure.
The grant will go towards supporting housing counseling services in more than 300 different organizations. Grant recipients will use the funds they receive to help address low and moderate income families’ housing needs, as well as helping households find affordable rentals and identify ways to repair bad credit. They will also assist homeless people find transitional housing opportunities and senior citizens who are seeking reverse mortgages or need help moving to an assisted living community.